KuCoin And BitMEX Incidents Do Not Affect Bitcoin Prices. Why?

 Lately various issues involving cryptocurrencies, Bitcoin is happening. Starting with the KuCoin hacking case to BitMEX facing US (US) legal action.


For the record, the KuCoin exchange platform has been hacked and over $ 100 million has been successfully stolen.


A few days later, the US government has indicted one of the chairmen of BitMEX for an offense.


However, both incidents did not have a sharp negative impact on Bitcoin prices.


According to the CEO of Amber investment application, Aleks Svetski, the resilience of Bitcoin prices depends on several factors, including large investors who buy BTC.


Svetski explained that the price of Bitcoin plays a role as a function of global demand overcoming tight supply, unchanged supply and reduced schedules.



Thus, the phenomenon of increasing investors who are interested in owning the asset, not only produces a minimum price but will also increase the pressure of the price surge.


Just look at 2020 so far, there are already many firms familiar with Bitcoin. Among them, MicroStrategy, Paul Tudor Jones and Square.


Based on information, the KuCoin incident caused the digital assets to decline slightly and the BitMEX news led to a decline of only a few hundred dollars, before jumping back to stronger levels.